DE-REPORTORIAL

DE-REPORTORIAL

De-Reportorial is an online news Magazine that churns out news, events in it's realness... Accuracy, factual, balance with utmost professionalism are the main theme and our watchword...

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Wednesday, June 12, 2024

25 Years After, Nigeria Yet To Experience True Democracy - Ajadi

June 12, 2024
25 Years After, Nigeria Yet To Experience True Democracy - Ajadi


A Chieftain of the New Nigeria People's Party, (NNPP),  Ambassador Olufemi Ajadi Oguntoyinbo has lamented that it is sad that after 25 years of continuous civilian rule, Nigeria is yet to imbibe true spirit of democracy, thus appealing to political leaders to play the game according to the rule so that every individuals irrespective of tribe, religion or political affiliations can enjoy the dividends of democracy.


Ajadi in a statement to mark the country's Democracy Day on Wednesday said since 25 years of Democracy in Nigeria, leaders are yet to play according to the  rule.


He said no true democracy thrive in usurpation of all governmental powers by one arm, the executive, saying democracy can only thrive with the independent of all the three arms of governments, judiciary, legislature and executive.


Ajadi said the Judiciary and Legislature's functions have been subsumed by the executive, thus making Nigerians to be  living in civilian dictatorship.


He however urged Nigerians to continue praying for the leaders, for them to lead the country aright, saying Nigeria is blessed with huge mineral resources which if well harnessed will make the country one of the leading powers in the World.


Ajadi who was the NNPP governorship candidate in Ogun state during the last general election said in the statement,  "It is sad that after 25 years of uninterrupted civilian rule, our leaders are yet to embrace true spirit of democracy. We have been having civilian rule that are not democratic.


"Starting from election which is the basis of democracy, we have not had a free and fair election in this country.


"Rather than people deciding who to govern them as it is obtained in true democracy, Five or Seven judges of the Supreme Court or Appeal Courts have been the ones deciding the winners of our elections.


"In a true democracy, there should be independent of three arms of government, but here in Nigeria, both Legislature and Judiciary are under the control of the Executive.


"Nigerians instead of experiencing dividends of democracy from the so called elected leaders, they are experiencing hardship, with many of them dying of hungers on daily basis.


"As we are celebrating Democracy Day today, I urge our leaders to have a change of heart and put the interest of Nigerians in their minds.


"I urged  the government to use this occasion to formulate policies that would bring growth and development, price control and components of true democracy.


"I also appealed to Nigerians to continue praying for our leaders for them to toe the right path in bringing development to our nation. We don't have any other country and when our leaders get it right, we will all enjoy the resources that the Almighty has blessed us with.

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Tuesday, June 11, 2024

Addressing False Information Alleging Impending Commercial Banking License Seizure and Bank Closure

June 11, 2024
Addressing False Information Alleging Impending Commercial Banking License Seizure and Bank Closure


Recent industry occurrences have given rise to an influx of false information and propaganda targeted at causing unrest in the Nigerian financial services industry. Among this fake news is a WhatsApp message  alleging that a number of commercial banks stand at risk of losing their banking license and being closed; one of the banks mentioned was Wema Bank. We categorically confirm that this claim is FALSE and contrary to the reality of Wema Bank's financial strength.

THE PREMISE

In a statement allegedly signed by The National Secretary of the Nigeria Union of Pensioners/Federal Civil Service Pensioners (NUP/FCSP), Abuja Branch, Wema Bank was mentioned as one of the commercial banks slated for impending license seizure by the CBN. The statement further urged pensioners and by extension the public, to relinquish their Wema Bank accounts and adopt other banks not listed in the statement, as a “proactive step against being caught in the web of the impending closure of the mentioned banks”.

THE TRUTH

Wema Bank is of sound financial health and at no risk of license seizure or closure. Our financial performance showcases financial strength and stability, as validated by stakeholders and auditors at our 2023 Annual General Meeting (AGM); a feat we have achieved despite Nigeria’s economic fluctuations. In addition, we are moving ahead to meet the N200bn minimum capital requirement stipulated by the Central Bank of Nigeria for a commercial bank license with national authorization. We have raised an additional N40bn in fresh capital over the past months and are on the path to meet the target within 18 months.


Our financial strength is evident not only in our 2023 financial report and Q1 2024 financial results but also in our growth trends over the past years, which ascertain that we are equipped to continue thriving. As reported in our FY 2023 Audited financial results, our financials grew strongly in the past year with a 196% increase in Profit Before Tax (PBT) from N14.75bn to N43.59bn, 220.4% increase in Profit After Tax (PAT) from N11.21bn to N33.66bn, 70.63% increase in Gross Earnings from N132.30bn to N225.75, 53.64% increase in Loans disbursed from N521.43bn to N801.10bn, 26% increase in Capital Adequacy Ratio from N12.74bn to N16.04bn and a remarkable 220.53% increase in Earnings per share from N87.2 to N279.5, among other successful upturns. Our Non-Performing Loan rate also stands at 4.31%, one of the lowest in the industry.


Furthermore, our stable financial future has been recently verified by the Pan-African rating agency Agusto & Co, who recently upgraded our rating to Bbb+ with ESG Score of 2 and confirmation of stable outlook. Despite financial headwinds, our Q1 2024 financial results show that we are on track to equal and/or surpass our 2023 results by the end of 2024.


In view of our positive financial record and solid financial standing, the claims made are not only 100% false but also unsubstantial and have no grounds or basis for consideration.


 

MEASURES TAKEN


With confidence in our financial standing and stable outlook, we have petitioned the security officials to invite NUP for questioning and will be taking legal action on the perpetrator(s) of this libelous statement. 


Wema Bank is firm in its commitment to providing optimum returns for every stakeholder, and we will not condone the circulation of false information that could potentially cause panic in the country.

 

As we follow through with stringent measures to hold the creators(s) of this allegation accountable, we take this moment to confirm categorically that Wema Bank is well equipped to continue serving our customers as a commercial Bank with National banking authorization, keep up the positive trends as we expand our reach and continue to provide all our shareholders and stakeholders with optimum returns.

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Stop Disregarding the Court, Appear to Defend Yourself of Allegations - Group Tells Bello

June 11, 2024
Stop Disregarding the Court, Appear to Defend Yourself of Allegations - Group Tells Bello

 


As the  lingering case of allegation of N80.2 billion fraud against the immediate past governor of Kogi State, Alhaji Yahaya Bello, by the Economic and Financial Crimes Commission (EFCC) resumes next Thursday, an Abuja-based civil group, Vanguard for Credible Representation (VCR) has urged Bello to stop disregarding the court and appear once and for all, to defend himself. 


A Federal High Court sitting in Abuja has granted the application by the Economic and Financial Crimes Commission (EFCC) for the former governor to appear in court for his trial.  This is as Bello has also filed an application to vacate the warrant of arrest granted against him by the court.


But, Justice Emeka Nwite held that Bello ought to appear before the court before making any application. He therefore adjourned the case to June 13, 2024. Justice Emeka Nwite, in the ruling, insisted that even if the arrest warrant was illegally obtained, the defendant (Bello) should have still shown up in court.


He said that the order of court subsisted until it is set aside, even if there is irregularity. The judge said Yahaya Bello’s staying away amounted to disregard to the sanctity of the court. “Bello should come to court in his own not through EFCC for arraignment on the next adjourned date,” the judge declared.


Yahaya’s lawyer, Abdulwahab Mohammed (SAN),  had assured the court that “efforts would be made to contact the former governor to appear in court on the next adjourned date.

In the group's release, the Coordinator,  Akinloye Oyeniyi, said: "We recall that this matter has generated so much unnecessary and unneeded brouhaha. This is a simple case of allegations and clearance of oneself. But here we are seeing the court almost begging the defendant to come to court despite its earlier ruling. This is terrible and uncalled for."

The group urged Bello to use the opportunity of the next adjourned day of June 13, 2024, to appear and clear all doubts about his integrity and respect for the judiciary.


"Like other Nigerians, groups and the court, we are also joining the chorus to ask Alhaji Yahaya Bello to appear before the court to clear his name, which is very necessary. We cannot be handling issues of this nature in the media and gossip centres. This is a serious matter and everyone should be involved to lay the matter to rest," Oyeniyi said.

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Monday, June 10, 2024

Optiva Capital Partners Showcases Investment Immigration and International Real Estate Opportunities to Kano Business Community

June 10, 2024
Optiva Capital Partners Showcases Investment Immigration and International Real Estate Opportunities to Kano Business Community


Businessmen in Kano have commended Optiva Capital Partners; a premier wealth management company for its innovative products and services in investment immigration and international real estate. This commendation came during an exclusive business dinner organized by Optiva Capital aimed at showcasing global investment opportunities for Kano business Community during the weekend.


Speaking at the event, which held at Amiingo Hotel Kano, Mr. Nduneche Ezurike, Group Head of Corporate Communications, Media, and Technology, who represented the CEO of Optiva Capital Partners, emphasized that Optiva's international network and global reach will avail businessmen opportunities in real estate, investment immigration, and insurance. Mr. Ezurike highlighted testimonials from thousands of families who have benefitted from Optiva Capital's services for over a decade. He noted that these success stories inspired the company to bring their services to Kano. He however expressed regret that many wealthy individuals have faced financial decline due to ignorance and misinformation on wealth retention, stressing the importance of informed investment decisions.


Also making a product presentation at the event, the Regional Head of Northern Operations, Ms. Sylvia Onyalu, revealed that acquiring a second passport through Optiva Capital is a legal means of accessing over 140 countries to attain various unimaginable benefits. She explained that a second passport provides opportunities enjoyed by citizens of those countries, including world-class education at minimal tuition fees, quality healthcare, global mobility, investment access, and overall improved quality of life for themselves and their families.


On international real estate opportunities, Ms. Onyalu noted, “Whether you are interested in luxury residences, commercial properties, or vacation homes, our global network and local expertise will help you identify the best investment opportunities. Beyond this, Optiva Capital Partners excels in strategically placing our clients' investments in markets with high appreciation potential, solid rental returns, and effective inflation hedging. This approach helps you to augment your wealth and, very importantly, secure your assets, which form your family’s heritage.”


Guests at the dinner, including popular Nollywood actor Sani Danja, expressed their delight at the opportunities presented by Optiva Capital to Nigerians. Mr. Danja praised Optiva Capital for bringing such prospects to Kano State, noting the company's trusted track record in service delivery.

Alhaji Rufai Usman, a prominent businessman who attended the event, commended Optiva Capital Partners for their insightful presentation and highlighted the immense potential these opportunities hold for local businesses. Dauda Yahaya, another attendee, echoed these sentiments, appreciating the company's dedication to empowering Kano's business community with global investment opportunities.


Optiva Capital Partners is Africa's largest provider of investment immigration and residency services. Optiva also provides specialist solutions in investment advisory, international real estate, and insurance services. The company is currently partnering with the Federal Government of Nigeria through the Nigeria in Diaspora Commission (NIDCom). The global vision of this partnership is to leverage Optiva's expertise and international network to provide structured business opportunities and connect Nigerians in the diaspora to global opportunities tailored to their families' needs.

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Sunday, June 9, 2024

Ogun Political Big-wig, Ajadi blows hot over traffic-induced hardship on Lagos-Ibadan expressway

June 09, 2024
Ogun Political Big-wig, Ajadi blows hot over traffic-induced hardship on Lagos-Ibadan expressway


The Southwest Chieftain of the New Nigeria People’s Party (NNPP), Ambassador Olufemi Ajadi Oguntoyinbo, has urged the Federal Government to take immediate action against construction company Julius Berger for their roadblocks on the Lagos-Ibadan Expressway. Ajadi emphasized that the prolonged gridlock, especially on the long bridge section, is causing significant distress and dehumanization for Nigerians who regularly use the route.

Ajadi, a long-time advocate for good governance, shared his frustrations after he and his convoy were ensnared in hours of traffic caused by the construction-related roadblocks. “Julius Berger’s actions have led to an unacceptable gridlock, forcing citizens to burn excessive amounts of fuel unexpectedly,” Ajadi said. “This is particularly burdensome given the current high fuel prices, which are already straining the finances of car owners.”

The timing of the roadblocks is especially problematic, according to Ajadi, as it comes just eight days before the Eid El-Kabir festival. “Nigerian Muslims are beginning their preparations and travel for Eid El-Kabir. The Lagos-Ibadan Expressway is a critical artery that connects the Southwest to other regions in Nigeria. Blocking this road now is unreasonable and shows a lack of consideration for the citizens,” he added.

Ajadi also raised concerns about the potential impact on emergency services. “The Federal Government and Julius Berger must consider scenarios where a pregnant woman or someone in critical need of medical attention requires urgent transport to the hospital. How would an ambulance navigate these long hold-ups caused by the roadblocks?” he questioned

He warned of dire consequences if the situation is not addressed. “If any casualty occurs on the Lagos-Ibadan Expressway, particularly on the long bridge, the Federal Government will be held responsible,” Ajadi stated emphatically.

The Lagos-Ibadan Expressway is one of Nigeria’s most important highways, facilitating movement between Lagos, the nation’s commercial hub, and other key regions. It is a vital route for millions of commuters and goods transporters. The ongoing construction by Julius Berger, while aimed at improving the road infrastructure, has been a source of frustration due to the traffic congestion it creates.

Ajadi’s call for government intervention highlights the need for a balanced approach to infrastructure development—one that considers both the necessity of upgrades and the immediate impact on citizens’ daily lives.


His remarks underscore the broader debate about how best to manage road construction projects in heavily trafficked areas without causing undue hardship to the public.

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Alhaji Mayaki Abubakar: A rare gift to humanity, a symbol of simplicity

June 09, 2024
Alhaji Mayaki Abubakar: A rare gift to humanity, a symbol of simplicity


When you are looking for  a man with kind heart, an administrator per excellence, a colossal resourceful person, caring father and husband,  very rare  gem to the universe, and philanthropist of the highest repute, you don't need to go further,  Alh. Abubakar Mayaki,  is the right person you are looking for.  

 Not only that, the man of many parts and egg head personality is a great gift to humanity and the world at large  courtesy of philanthropy activities.


Alhaji Mayaki Abubakar, an astute business man, who has made a indelible and credible impact in real Estate business, his firm MYK LAND AND PROPERTIES NIGERIA LIMITED located at No.11 Nepa street Alatisé ibeju Lekki Lagos State, branch at Eyinle No.34 Segandogo street Lucky Fiber, Ikorodu Lagos State is a trusted and a very reliable name in real estate business.


The very handsome and gentle fellow is a native of Shonga, in Edu local government. His love for mankind and our beloved nation also made him the number one friend of security personnel.


Due to his love for humanity and his gargantuan contributions to the development of our country and many communities, he was honoured with the title of Aare Asoludero of Ladaba Kingdom in Lagos, Mayaki General of Nupe in Lagos state, chairman Nupe of Ikorodu in Lagos state and Akinrogun of Ejigbo land in Lagos state, among many other honours.


 No doubt about it, Alhaji Mayaki Abubakar, has written his name in golden book and his love for humanity has made him  the toast of many people, no wonder his firm waxing stronger everyday among her competitors in the real estate business.

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Buratai Eulogizes Late Olubadan as a detribalized Monarch who Promoted Unity

June 09, 2024
Buratai Eulogizes Late Olubadan as a detribalized Monarch who Promoted Unity

 


Aare Akinrogun of Ibadanland and former Chief of Army Staff (COAS), Lt. Gen. Yusufu Buratai CFR has described the late 42nd Olubadan of Ibadan Land  , Oba Lekan Balogun, Alli Okunmade II, as a detribalised Nigerian who lived to serve humanity, Nigeria and the people of Ibadanland. He also described his death as painful”.






Buratai stated this on Saturday, June 8th, 2024 at the Liberty Stadium, Ibadan, Oyo State, at the civic reception organized for the late Olubadan by the Oyo State Government .




 He described the late Olubadan  as a responsible king who dedicated his life and time to promote unity and oneness of Nigeria.



Buratai said the death was a great loss, stressing that “we have lost a friendly, jovial, compassionate and loving monarch”.






Speaking further, he said " he did not just accord me respect as an elder statesman, I was also honoured with a chieftaincy title of Aare Akinrogun of Ibadanland and i am proud to be associated with the late Olubadan.


Ambassador Buratai who earlier paid a courtesy visit to the family of another Late Olubadan, Oba Saliu Akanmu Adetunji, where he was received by the families and Olori’s of the the Late Olubadan Adetunji, prayed for the family. He informed the family that he was in Ibadan for the final burial ceremony of Late Oba Balogun, and he found it expedient to also visit the families of Late Oba Saliu Adetunji too.






Recalled also that Tukur Foundation a Non-governmental Organization (NGO), also set up a three-day free medical outreach to honour the departed Oba Balogun.




Amb Buratai however pray for the success of the new olubadan too and urge him to build on the legacies of his predecessors.


Ambassador Buratai’s entourage to Ibadan, included the Olowu of Kuta, Oba Hammed Oyelude Makama CON, HRM, Adekemi Omorinbola, the Regend of Asin, Iwaro- Oka, Major General Bulama Biu (rtd), the President of the 29th Regular Course, Commodore Teidi (rtd), Brigadier General Muazu, the Garrison Commander, Division 2 Garrison Command, Colonel Emmanuel Adegbola (rtd), Comrade Oladimeji Odeyemi, Alhaji Ibrahim, Danfulani, the Sadaukin Garkuwan Keffi, Mr Femi Oyewale, the Publisher of Sahara Weekly, Barrister Lateef Onijo and others

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ADEAGBO HERYTAGE LTD: BAKERY/PASTRY WITHOUT KILLERS

June 09, 2024
ADEAGBO HERYTAGE LTD: BAKERY/PASTRY WITHOUT KILLERS

 


~By Oluwaseun Fabiyi 


A good chunk of what makes a person, is what he/she takes in or eat. What one takes in intellectually counts a lot, but what one takes in as food,is a factor to consider even for intellectual development.


We now live in a world where the crave to make wealth at the expense of other people's health and wellbeing is becoming the order of the day. 


Little or no wonder;why there are arrays of diseases spreading around, because of the junks people consume in the name of food. Many of the additives are preservatives bakers and food drink producers use for their products are killer.


Nevertheless, there is a bakery and pastry giant that stands out.Their foods and cookies do not contain killer chemicals. They have been tried and proven over time:


For an 100% bromate-free breads,cookies or pastries, count on  *ADEAGBO HERYTAGE LTD!*


They have faithfully served in all their branches with utmost integrity and trust, putting humanity and health first. As such, the prices of their products are pocket friendly.


ADEAGBO HERYTAGE LTD is situated at No 1,Adeagbo Avenue,Iyana Ajia Road,Elebolo Bus-stop, Ibadan,Oyo state.


When next you think of bakery and pastry business, think of ADEAGBO HERYTAGE LTD!

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Abubakar Malam Commends Gov Idris, PWA Chairman Over 2004 Hajj Exercise

June 09, 2024
Abubakar Malam Commends Gov Idris, PWA Chairman Over 2004 Hajj Exercise

 


From Samaila Bayo, Birnin Kebbi 


The Special Adviser to Governor Nasiru Idris on Infrastructural Development and All Progressives Congress (APC) stalwart, Alhaji Abubakar Garin Malam has commended the state Governor, Chairman of the state Pilgrims Welfare Agency,  Alhaji Farouk Aliyu Enabo  and other stakeholders for the successful conduct of the Hajj exercise in Kebbi State.


While speaking to journalists at his Badariya residence in Birnin Kebbi, he said the exercise could not have achieved the success it recorded without the efforts of the State Governor, Chairman of the Pilgrims Welfare Agency (PWA ) and other stakeholders in charge of the Hajj operation.


Garin Malam urged the government and officials of the pilgrims to maintain the tempo for subsequent Hajj operation exercise in the state.

 

The Governor's aide charged pilgrims from the state to pray for the present administration, under Governor Idris to continue to achieve it's set objective and programs planned for the development and progress  and peace of the state. 


He enjoined the pilgrims to be obedient and follow the rules guiding the hajj exercise in Saudi Arabia and avoid anything that will affect image of Kebbi State negatively.


The Shattiman Gwandu therefore prays for all the pilgrims from the state for a safe return after the completion of the hajji obligations.

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Saturday, June 8, 2024

Nigeria, Benin Republic to operate joint border post

June 08, 2024
Nigeria, Benin Republic to operate joint border post

 


From Samaila Bayo, Birnin Kebbi


Nigeria and representatives of Benin Republic have concluded arrangements for the establishment of a one-stop border post.


The joint border post is to be established between the borders of the two countries at Tsamiya in Kebbi and Segbana in Benin Republic.


The arrangement was the outcome a meeting between Comptroller of Nigeria Customs Service, Kebbi Area Command, Ehenacho Ernest Ojike who represented Nigeria and Aroune Darmane, the Head of Customs at Sebgana Border who represented Benin Republic.


The meeting is a follow up to the first meeting between the two countries on 21st of May, this year at Segbana, Benin Republic to streamline socioeconomic activities between Nigeria and Benin Republic.


While speaking to journalists, Ojike said the one stop border post arrangements would finetune the operational modality that will benefit both countries. 


He said "We have agreed to establish an internationally recognized one-stop border post. We have agreed to have a single entry declaration form for the two countries.


He added that Nigeria and Benin Republic are signatories to the World Trade Organization and World Customs Organization which have the principles of the one-stop border post.


Ojike said with this arrangement, there will be a joint agency inspection for goods and persons to ensure security and trade. "We will come together to inspect goods and persons coming in and going out of both countries", he said.





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KIESEC fixes Kebbi LG election for 31 of August

June 08, 2024
KIESEC fixes Kebbi LG election for 31 of August

 


From Samaila Bayo, Birnin Kebbi


Kebbi State Independent Electoral Commission (KESIEC) has fixed 31st of August 2004 for the conduct of the state's local government elections.


While briefing journalists after the meeting KESIEC executives held with heads of security agencies, stakeholders and representatives of political parties, the commissioner in charge of information and communication, Muhammadu Kaura Dan Hakimi said the date for the election to fill the vacancy of local government chairmen and councilors was fixed for 31 of August after deliberating with the stakeholders and representatives of political parties in the state.


He said "kebbi State Independent Electoral Commission (KESIEC) in discharging the powers comferred on it by the relevant laws, wishes to fix conduct of the local government election for 31 of August, 2004".


He added that nomination forms, contacts and all other relevant documents in relation with the election are to be made through the secreteriat of the commission in Birnin Kebbi to enable political parties, stakeholders and the general public commence necessary preparation for the election. 


"The commission, therefore, solicits for the support and co-operation of stakeholders and general public for the conduct of free, fair, credible and acceptable local government election in the state", he said.

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Friday, June 7, 2024

Movie Maker, TAMPAN Honours Raphael Datuowei as Global Ambassador

June 07, 2024
Movie Maker, TAMPAN Honours Raphael Datuowei as Global Ambassador


It was a new dawn in Lagos State Tampan Chapter on Wednesday, when one of Nigeria's ever busy businessman, Mr. Raphael Datuowei was conferred with the First ever Lagos Tampan Global Ambassador. 

The brief but colorful ceremony took place inside the prestigious Radio Lagos Multipurpose Hall, LTV Complex, Ikeja. 

The New Global Ambassador, was accompanied by his wife,  Mrs Joy Datuowei and some of his friends. 

Tampan Lagos State Chapter Governor, Mr Dele Ayobiojo, read his speech, where he went down memory lane to inform him about Tampan and her Living Legends, the BoTs and the current Global President. 

He went further by giving him a mandate of what is expected of him as a widely travelled man, which includes, among others connecting Tampan Lagos State Chapter with Films Productions, International Exhibitions and Marketing that will boost the industry. 

In his response, Mr Datuowei promised to do his best by not disappointing the Association. 

Key members that were present at the ceremony, besides the State Executive Council Officers, were Mr. Anthony Ogundimu Ara, Dr. Yemi Amodu, Elder Yinka Alalade, Hon. Yinka Awotubo and other distinguished members.






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Thursday, June 6, 2024

Ifayichi Releases New Tracks, Including Collaboration with Late Music Icon OJB Jezreel

June 06, 2024
Ifayichi Releases New Tracks, Including Collaboration with Late Music Icon OJB Jezreel


Ifayichi, a rising star in the Nigerian music scene, has unveiled a collection of electrifying new songs, featuring a special track in collaboration with the late music icon and renowned producer, OJB Jezreel. Titled "The Question," the song delves into the complexities of relationships and explores the age-old dilemma faced by men when it comes to matters of the heart.

"The Question" stands out as a compelling fusion of Dancehall and R&B, showcasing Ifayichi's versatile musical style and creative prowess. With OJB Jezreel lending his legendary talent to the track, the collaboration delivers a captivating listening experience that is sure to resonate with fans of both artists.

In this thought-provoking song, Ifayichi and OJB Jezreel delve into the question of whether it truly favours men to fall in love in the first place. Through poignant lyrics and soulful melodies, the artists navigate the complexities of modern relationships, offering listeners a glimpse into the emotional rollercoaster of love, heartbreak, and self-discovery.

"Working with the late OJB Jezreel on 'The Question' has been a true honour and a dream come true for me," said Ifayichi. "His unparalleled talent and musical genius elevated this track to new heights, and I am thrilled to share it with my fans and music lovers everywhere. OJB lives on."

Despite OJB Jezreel's passing, his legacy lives on through his timeless music, and his collaboration with Ifayichi on "The Question" serves as a testament to his enduring impact on the Nigerian music industry.

Ifayichi's latest releases, including the standout track "The Question," mark a significant milestone in the artist's career, solidifying his position as a rising star to watch in the Nigerian music landscape. With his unique sound, compelling storytelling, and dynamic collaborations, Ifayichi continues to captivate audiences and leave a lasting impression on listeners worldwide.

To listen to Ifayichi's new tracks, including "The Question" featuring OJB Jezreel, visit his Spotify link - https://open.spotify.com/album/3BvcX9424WUwQPftcbORSM and other music platforms. Follow him on social media – Tic Tok @ifayichi12; IG @ifayichi; X @ifayichi12, YouTube @ifayichi, and FB @ifayichi, amongst others.

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AGUSTO & CO UPGRADES WEMA BANK’S RATING TO Bbb+ WITH ESG SCORE OF 2 …Confirms Stable Financial Outlook for the Bank

June 06, 2024
AGUSTO & CO UPGRADES WEMA BANK’S RATING TO Bbb+ WITH ESG SCORE OF 2  …Confirms Stable Financial Outlook for the Bank


Following its strong 2023 financial performance, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has received an upgraded rating from Agusto & Co, validating the Bank as Bbb+ rated with an ESG Score of 2 and confirming a stable outlook for the Bank.


Agusto & Co is a Pan-African credit rating agency and leading provider of industry research and knowledge in Nigeria and Sub-Saharan Africa.


By upgrading Wema Bank’s rating from BBB to BBB+, Agusto has confirmed that Wema Bank is of stable financial standing and more equipped than ever to keep fulfilling its duties as a commercial bank with National authorization. 


This development is unsurprising as Wema Bank’s financial strength is reflected in the Bank’s FY 2023 Audited Financial Report. Among the outstanding results achieved by Wema Bank was a 196% increase in Profit Before Tax (PBT) from N14.75bn to N43.59bn translating to higher pre-tax return on average equity (ROE) and pre-tax return on average assets (ROA) from 21.5% to 43.9% and 1% to 2.1% respectively. The Bank also recorded a 220.4% increase in Profit After Tax (PAT) from N11.21bn to N33.66bn, 70.63% increase in Gross Earnings from N132.30bn to N225.75, 53.64% increase in Loans disbursed from N521.43bn to N801.10bn, a reduction in cost-to-income ratio (CIR) from 80.1% to 64.4% due to significant earnings growth despite economic fluctuations and 220.53% increase in Earnings per share from N87.2 to N279.5, among other indices.


According to Agusto & Co, “The upgrade of Wema Bank’s rating to Bbb+ is underpinned by improved profitability despite macroeconomic headwinds, lower impaired loan ratio, better deposit mix, strong shareholders’ support as reflected in the successful rights issue exercise and perpetual bond issuance. We have also attached an ESG score of ‘2’, reflecting our view that environmental, social, and governance issues have a minimal impact on Wema Bank’s rating”.


Affirming the Bank’s commitment to providing stakeholders with optimum returns, Moruf Oseni, Wema Bank’s MD/CEO, expressed the Bank’s gratitude to Agusto & Co for acknowledging the strong progress made by the Bank. “Wema Bank is on a journey to the top and we are driven by a commitment to delivering exceptional value, exceeding expectations, and providing optimum returns to every stakeholder—shareholders, customers, employees, and partners alike. It is this commitment that has reflected positively in our numbers and will propel our growth over the next decade”.

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Wednesday, June 5, 2024

Top US based gospel singer, Sunday Olatunji Ogo Tuntun, bags 'Outstanding Gospel Artist of the year'

June 05, 2024
Top US based gospel singer, Sunday Olatunji Ogo Tuntun, bags 'Outstanding Gospel Artist of the year'


It was another beautiful feather to the cap of Nigerian born and US based gospel singer, Sunday Olatunji Ogo Tuntun, as the sonorous voice singer of God was honoured with Outstanding Gospel Artist of the year courtesy  Golden Stars awards.


The dark and handsome dude was honoured with the prestigious award due to his immense contributions to the growth and development of gospel music both in Nigeria and in the Diaspora.



The award that came up at Lekki Coliseum, had in attendance the cream-de-la cream in entertainment industry. Though Mr Bosenlo l'Amerika was not physically present to receive the award but his Nigerian manager, Aremo Wasiu Adewoye and family members of the gifted artist were on ground to receive the award on his behalf.


Apart  from Ogo Tuntun, other notable entertainers who were also recipients of the award were Laide Bakare, Antar Laniyan, Oluwadollar, Mimi Tee, and others in the entertainment world while Olu Ipokia, Oba Olusola Adeniyi Olaniyan was majestically present at the epoch occasion.

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Gani Adams asks court to strike out Igboho's N500m defamation suit

June 05, 2024
Gani Adams asks court to strike out Igboho's  N500m defamation suit


Aare Onakakanfo of Yorubaland, Iba Gani Adams has asked the Oyo State High Court, in Ibadan to strike out the suit filed against him by Yoruba nation activist, Sunday Adeyemo, popularly known as Sunday Igboho, over alleged defamation of character.

Igboho in the suit is seeking an order compelling the defendant to pay N500 million as aggravated damages over the alleged leaked audio conversation, which he claimed impugned his reputation.

Igboho is also seeking, among others, “a declaration that the content of an audio clip between the defendant (Adams) and a third party named Nuru Banjo that took place sometime in November 2021 and further published on all news media platforms, including Youtube, is slanderous, libelous and defamatory."

However, in a Motion filed  by his Counsel, Oluwole Kehinde of OKC Attorneys, prayed the court to strike out the suit.

Adams in an affidavit in support of the motion, deposed to by one Micheal Oluwanmi Okunore on his behalf, asked the court to strike out the suit for its failure to follow due process.

Adams averred that the claimant's Writ of Summons in this suit does not have the required mandatory endorsement that it is for service outside Oyo State and in Lagos State.

The defendant further averred that Writ of Summons of the claimant was not signed by a legal practitioner or the claimant himself.

He therefore, prayed the court:" It is in the interest of justice to strike out the claimant's suit before the Honourable Court for the foregoing reasons".


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Adron Homes Chairman Announces Ojude Oba Sponsorship, Pays Homage to Awujale

June 05, 2024
 Adron Homes Chairman Announces Ojude Oba Sponsorship, Pays Homage to Awujale


Adron Homes team consisting of Senior executives and the Chairman and Group Managing Director; Aare Adetola Emmanuel-King has paid a courtesy business visit to the Palace of the Awujale of Ijebuland over the week. This significant visit, underscored the profound respect accorded to His Imperial Majesty, Oba Sikiru Adetona Ogbagba II, the revered Awujale of Ijebuland, who recently celebrated his momentous 90th birthday.

Characterized by an atmosphere of reverence and admiration, Adron Chairman gave a touching address where he expressed deep gratitude to Kabiyesi, extolling his virtues as a father figure to all ijebu sons and daughters across the world. Aare Adetola extended sincere wishes for more glorious years of service to the people of Ijebuland and prayed for the monarch's enduring health and long reign.

As Nigeria's leading real estate company, Adron Homes once again showcased its unwavering commitment to community engagement and cultural preservation during the visit. 

The Chairman also announced Adron Homes eagerness and readiness to be a major sponsor of this year's Ojude Oba Festival. This colourful and widely attended annual celebration serves as a profound connection between the past and present, uniting generations of the Ijebu people to celebrate their rich heritage and express gratitude for the year's blessings.

Aare Adetola promised significant discounts on all Adron Homes products in the Ileya 2024 promo and Ojude Oba event. This initiative aims to encourage both Ijebu indigenes and non-indigenes to invest in properties within any Adron Homes Estate nationwide, thereby promoting widespread homeownership and community development.

In response, Oba Adetona bestowed his blessings on the Adron Homes Team. Kabiyesi expressed profound gratitude to God Almighty and offered special thanks and prayers for the management of Adron Homes. He further encouraged the company to maintain its exemplary status as a proudly Nigerian real estate brand.


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One Year On, President Tinubu’s Administration Confirms All Primate Ayodele’s Prophecies

June 05, 2024
One Year On, President Tinubu’s Administration Confirms All Primate Ayodele’s Prophecies


‘’If Nigerians vote for APC in 2023, the country will sink, we will swim in poverty, and the economy will be in shambles. If APC wins, Nigeria will suffer extraordinarily. We have not yet seen hardship; if APC wins, the real hardship will come. The economy will be sick.’’


These were the words of a popular Nigerian prophet, Primate Elijah Ayodele of INRI Evangelical Spiritual Church in October 2022 before the Nigerian presidential election was held in 2023.


‘’Subsidy is gone’’, it’s been one year since Mr. President, Bola Ahmed Tinubu made this statement that would later lead to a rocky beginning of his administration. It was his first major statement as the democratically elected President of Nigeria and as the nation marks the first anniversary of Mr. Tinubu’s administration today May 29, 2024, it is discernable that the ripple effect of his statement still lingers on account of the inexplicable catastrophe that continues to face a larger percentage of the country’s population.


Anatomizing the prophecy of Primate Ayodele and President Tinubu’s statement, it can’t be gainsaid that the prophecy of Primate Ayodele began to come to pass with the first public statement of the Grand Commander of The Federal Republic (GCFR) of Nigeria. Maybe the president’s intention wasn’t to cause economic woes but the blowback of his announcement initiated a renewed economic turmoil, bringing to fruition Primate Ayodele’s prophetic description of another APC government and Tinubu’s administration.


‘’I’m not saying anyone should not insult me; I am not scared of any human being. If Nigeria votes for APC in 2023, things will be tougher. We will see human beings and want to eat them like food. This is how God told me. I am not saying you should not criticize me or say anything against me even as an APC member, I warned you in 2015 too. If you want to vote for lies in 2023, if you vote for the party that has a broom as their symbol, I pity churches. I am not against anybody and I don’t vote, Nigeria will be tough. If you vote and Tinubu enters, there will be serious problems.’’


Immediately President Tinubu made the statement about removing fuel subsidies, there and then, fuel skyrocketed to N617/Litre and exponentially, every essential commodity became adversely affected, leading to more than 100% increase in the prices of food items, household items, electronics, to mention but a few.


Another early decision taken by the President Bola Ahmed Tinubu-led administration was the floating of Nigerian currency, Naira, in an attempt to curb the incessant increase in foreign exchange rate. Unfortunately, Naira rose to N890/$ in the first week of the policy and later exceeded N1,500 as a result of Naira floating. There were several attempts to bring it down; the government declared war on BDC operators, stopped cryptocurrency platforms from operating in the country yet the currency is still performing woefully in the foreign exchange market.


These were executions of Primate Ayodele’s prophecy where he warned Nigerians against voting for a wrong candidate before the election.


‘’If Nigeria vote for a wrong candidate, dollar will rise to N1,500, diesel will rise to N1,500 or N2,000, bread of N200 will be N800, cost of living will be high, and I am telling you terrorism will be high, prepaid meter bill will be high and the rate of poverty will be high. This will affect both the rich and the poor, we may get it wrong the way we are going about it, we are getting it wrong.’’


‘’Let God direct us to get the right president in 2023, if we get the wrong president, our economy will fail. I am afraid of the country. This is a sensitive time in our country, making noise will not solve anything at this moment’’


https://dailypost.ng/2022/12/24/2023-pick-wrong-president-fuel-dollar-will-rise-to-n1500-primate-ayodele-to-nigerians/


The government has made efforts to save the country which appears to be on a tailspin but there have been no improvement, rather, it’s been significant calamities and unequivocal torture on the good people of Nigeria with taxes and tariffs. To further demonstrate the quagmire Nigerians found themselves in, inflation rate has increased to 33.69 from 22.41 within one year, according to the Nigerian Bureau of Statistics, still fulfilling the prophecy of Primate Ayodele.


‘’I am seeing a new government of sorrow, hardship, failure, economic disappointment, there will be more hardship because God never approved another APC government for Nigerians.’’


“Under this new government, Nigeria will not be regarded internationally, this government will not make it better than what we experienced in the outgoing government.’’


https://tribuneonlineng.com/god-is-against-tinubus-victory-primate-ayodele/


 ‘’I foresee there will be a high cost of living as tariffs on goods and services will be raised and taxes will be too high despite the fact that the goods are not contraband. The spirit of God says the economy will still be very difficult to manage. The government needs to do something good for the people and seek the face of the Lord for divine direction.’’


https://theeagleonline.com.ng/more-taxes-economic-hardship-primate-ayodeles-fulfilled-prophecy-on-tinubus-government/


On Security, President Tinubu’s administration has performed deplorably in securing the nation as expected. 85 Civil Society Organizations CSOs asserted that 4,416 Nigerians were killed while 4,334 abducted in the last one year. According to the leadership of the various CSOs including Global Rights Nigeria, Civil Society Legislative Advocacy Centre CISLAC, and others, Nigeria ranked 144th out of 163 countries on the Global Peace Index in 2024, sandwiched between countries inactive warfare, and 5th on the Global Conflict Index, ranking as being extremely vulnerable to conflict.


Primate Ayodele’s prognostications about President Tinubu’s ability to secure the nation were indeed a reflection of all that is happening in the country’s security sector. The enigmatic prophet specifically mentioned that kidnapping would be an issue in the present administration and until the security operatives woke up from their slumber, there were reports of kidnapping daily especially in Abuja.


“Kidnap: I foresee that a Commissioner and an aide in a Governor’s convoy will be kidnapped. The spirit of God says kidnapping will take another dimension. Let us pray for all governors in Nigeria that none of them will be bedridden.’’


Additionally, Primate Ayodele revealed several other things including corruption in the government which came to pass with the indefinite suspension of Betta Edu as minister, the unreliability of cash palliative which was later suspended, to mention but a few.


“Corruption will hit this government hard except the government is ready to fight corruption from the root,” 


https://sunnewsonline.com/2023-prophecies-what-god-told-me-about-tinubu-presidency-primate-ayodele/


‘’The N8,000 palliative is corruption, I see nothing in the palliative and it will not reach out to the poor masses. Despite the fact that Mr President has signed it, it will not make any impact. The governors will use it for their selfish needs. The poor will not enjoy it at all.


https://tribuneonlineng.com/tinubus-n8k-palliative-corruption-in-disguise-primate-ayodele/


In the first year of President Bola Ahmed Tinubu, his administration has fulfilled the prophetic revelation of Primate Ayodele especially in the economy and security aspects of the country. Conversely, Primate Ayodele has proffered solutions to the unending crisis facing the country but sadly, the administration is yet to take actions on them.


“If Tinubu doesn’t get to work immediately and find a way to solve our economic issues, there will be massive protests. The people are crying already, salary earners are not satisfied and it will get to a state where governors will not be able to pay salaries again.


“Government of Nigeria must work on five things in 2024 which can make the country to be great: Stable light, Improve security and buy more weapons, Development of infrastructural facilities, Agriculture (plenty of food) and Create employment.’’


Going forward, there is an urgent need for the government to take deliberate steps to bring about significant improvement in the country’s economy and security. As the President begins his second year in office, it is imperative that he follows counsels like that of Primate Ayodele who foretold all that has happened and simultaneously provided solutions to Nigeria’s predicament.

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Tuesday, June 4, 2024

Victoria Ajibola's New Movie, "Akanke Amororo" Set for Private Screening in Oyo

June 04, 2024
Victoria Ajibola's New Movie, "Akanke Amororo" Set for Private Screening in Oyo


Renowned movie producer cum actress, Victoria Ajibola, popularly known as Omo Local, is set to unveil her latest movie, "Akanke Amororo," in an exclusive private screening on Saturday, June 8, 2024, in Oyo Town. The film, which boasts a star-studded cast including Odunlade Adekola, Ibrahim Chatta, Alapini Osha, Peju Ogunmola, Antar Laniyan, Kolawole Ajeyemi, Bose Akinola, Ojopagogo, Ayo Mogaji, Olayinka Abdraman, Oyetola Omo Elemosho, Atoribewu, and Ajanbadan promises a compelling narrative filled with drama, intrigue, and cultural richness.


"Akanke Amororo" tells the captivating story of a powerful woman, Akanke Amororo, who hails from a family with deep roots in masquerade traditions. Despite her family's unique heritage—her blind father is a renowned drummer—Akanke's formidable abilities remain undetected by those around her. The plot thickens with the presence of a tyrannical king whose son is notorious for his heinous acts of molestation and violence against women. 


To curb the prince's depraved behavior, the oracle prescribes marriage as a remedy. The solution involves organizing the Odunoge Festival, where the prince's future wife will be selected from the best dancers. Akanke Amororo, who belongs to a dance troupe in her village, enters the competition, aiming to avenge the wrongs inflicted upon her village by the cruel king. Her victory in the dance competition secures her marriage to the prince, paving the way for her to uncover and dismantle the king's source of power.


Victoria Ajibola's production not only highlights the rich cultural tapestry of Yoruba traditions but also tackles significant themes of justice, empowerment, and retribution. The film's private screening is highly anticipated, marking a significant milestone for Ajibola's career and the Nigerian film industry.


Invited guests will have the opportunity to witness this riveting tale firsthand in Oyo Town, a setting chosen for its cultural significance and Ajibola's personal connection to the locale. The screening promises to be a memorable event, celebrating the artistic achievements of the cast and crew while offering a powerful narrative that resonates with contemporary social issues.

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King Saheed Osupa : Another Fuji Legend With A Class

June 04, 2024
King Saheed Osupa : Another Fuji Legend With A Class


In the vibrant world of Nigerian Fuji music, one name stands out like a shining star: King Saheed Osupa. His impact on the genre is immeasurable, and his legacy continues to resonate with fans and fellow musicians alike. In this article, we delve into the many reasons why Osupa remains the most outstanding musician in general.


1. Fashion Sense :


Osupa's fashion sense is nothing short of iconic. Whether he's performing on stage or attending an event, his attire always makes a statement. At "The Fanfest Live Stage, Ibadan," Osupa once again proved his sartorial prowess. His ensemble seamlessly blended tradition with modern flair, capturing the essence of Fuji culture while remaining relevant to contemporary trends.

2. Quality Lyrics :


Lyrically, Osupa is a master storyteller. His songs are rich in metaphor, emotion, and social commentary. His ability to weave intricate narratives into his music sets him apart from his peers. At the event, as he freestyled about the match scoreline, fans hung on every word, marveling at his lyrical dexterity.


3. Charisma :


Charisma is an intangible quality that draws people in. Osupa possesses it in abundance. His stage presence is magnetic, commanding attention from the moment he steps into the spotlight. His interactions with the audience are genuine, creating an electric atmosphere that lingers long after the music fades.


4. Relationship With Fans :

Osupa's connection with his fans is unparalleled. He understands their hopes, dreams, and struggles, and his music reflects their experiences. At "The Fanfest Live Stage," he engaged with fans, making them feel seen and heard. It's this genuine bond that endears him to generations of Fuji enthusiasts.

5. Time Factor :

Osupa's longevity in the music industry speaks volumes. Over the years, he has consistently delivered hit after hit, adapting to changing tastes without compromising his artistic integrity. His enduring relevance is a testament to his talent and work ethic.

6. Good Composition Relating to Daily Activities : 

Osupa's compositions resonate because they mirror everyday life. From love to societal issues, he captures the essence of the human experience. His songs are relatable, providing solace and inspiration to listeners across the globe.

As the sun set over the Adamasingba Stadium, fans cheered for Osupa, their voices echoing through the stands. His performance was a masterclass in Fuji music, a blend of tradition and innovation. The match between Shooting Stars and Abia Warriors was memorable, but it was Osupa's freestyle that left an indelible mark. Saheed Osupa remains the Fuji legend, and his star continues to shine brightly.


Note : "The Fanfest Live Stage, Ibadan" took place on June 2, 2024, sponsored by Goldberg and powered by Nigerian Breweries Plc.

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FIRSTBANK EXPOSURE TO HERITAGE BANK HAS BEEN SETTLED

June 04, 2024
FIRSTBANK EXPOSURE TO HERITAGE BANK HAS BEEN SETTLED


The Nigeria Deposit Insurance Corporation (NDIC) yesterday announced the

commencement of the liquidation of the defunct Heritage Bank Plc, following the

revocation of its operating licence by the Central Bank of Nigeria (CBN).

The corporation said the move was in accordance with Section 55 sub-section 1 and 2

of the NDIC Act 2023, adding that depositors of the defunct bank that have alternate

accounts within the industry would be paid up to the insured amount of N5 million per

depositor using their Bank Verification Number (BVN) to locate their alternate account.

In a statement, NDIC Director, Communication and Public Affairs, Bashir Nuhu, said that

the liquidation process was with immediate verification and payment of insured deposits

to the bank depositors.

He said depositors with funds more than N5 million would be paid liquidation dividend

upon realisation of the bank’s assets and recovery of debts owed to Heritage Bank.

The revocation is coming on the revelation that FirstBank’s total exposure to Heritage

bank amounted to about N500 billion.

The CBN under former Central Bank Governor, Godwin Emefiele, got FirstBank to

support Heritage Bank at the level of forbearance, clearing of their checks and

instruments. “This led to their massive indebtedness to FirstBank to the tune of N500

billion,” a source with knowledge of the matter revealed.

THISDAY reliably learned last night that before the announcement of the revocation of

Heritage Bank’s licence was made, CBN paid off First Bank’s exposure to Heritage.

Since its intervention was at the behest of the apex bank under Emefiele.

The NDIC further advised all depositors of the defunct bank without alternate bank

account in the industry to visit the nearest branch of the bank with proof of account

ownership, verifiable means of identification such as driver’s licence, permanent voter’s

card, national identity card, together with their alternate account and BVN for the

verification of their deposits and subsequent payment of insured sums.

Nuhu, also the bank’s creditors to visit the nearest branch of the bank to file their claims

or via the online platform, adding that the process of payment of creditors would

commence immediately after all depositors have been paid.

He also advised debtors that are yet to complete the repayment of loans to contact the

corporation’s Asset Management Department (AMD) or visit the NDIC website for more

details.


The NDIC however, assured the entire banking public of its commitment to the

continued safety of depositors’ funds in all licensed banks.

It therefore, urged depositors to continue their banking businesses without fear as

banks whose licenses have not been revoked remain safe and sound.

The CBN had earlier announced the revocation of the operating licence of the failed

bank with immediate effect.

In a statement issued by CBN acting Director, Corporate Communications, Mrs.

Hakama Sidi Ali, the apex bank said the move was in accordance with its mandate to

promote a sound financial system in Nigeria and in exercise of its powers under Section

12 (1l of the Banks and Other Financial Act (BOFIA) 2020.

The central bank pointed out that the Board and management of the bank had not been

able to improve the bank’s financial performance, a situation which constitutes a threat

to financial stability.

This followed a period during which the CBN engaged with the bank and prescribed

various supervisory steps intended to stem the decline.

Sidi Ali said, “Regrettably, the bank has continued to suffer and has no reasonable

prospects of recovery, thereby making the revocation of the license the next necessary

step.”

Specifically, the CBN said the action became necessary due to the bank’s breach of

Section 12 (1) of BOFIA, 2020.

The CBN acting director further explained that the central bank took the action to

strengthen public confidence in the banking system and ensure that the soundness of

the financial system was not impaired.

She said the NDIC had also been appointed as the liquidator of the distressed bank in

accordance with Section 12 (2) of BOFIA, 2020.

She explained, “We wish to assure the public that the Nigerian financial system remains

on a solid footing.

“The action we are taking today reflects our continued commitment to take all necessary

steps to ensure the safety and soundness of our financial system.”

However, reacting to the licence revocation by the CBN, Founder/Chief Executive

Officer of Proshare Nigeria Limited, Mr. Olufemi Awoyemi, argued that at least four other

banks “are in situations requiring swift CBN intervention; therefore, the #CBN and the

#NDIC will have to shift regulatory/intervention gear sticks to ensure that the banking

system works with minimal disruption.”

He pointed out that the revocation of Heritage Bank’s licence did not come as a

surprise.


“For a bank under forbearance, this was a long time coming (as we recall the number of

reports on same and challenges with similar entities under the same program), given

the numerous follow-ups done by Proshare.

“Neither the CBN nor NDIC took to Proshare’s recommendations; with the wheels now

turning full circle with the CBN’s recent decision to liquidate Heritage Bank, the crackling

of regulatory noise has been tuned up. Therefore, we remain unsurprised and ask why it

took so long for the regulators (CBN and NDIC) to see the merit in the

recommendations proffered,” he added.

According to him, almost five years after, and sequel to the multiple interventions by the

CBN, including its forbearance position, nothing changed.

“Eventually, it would appear that the CBN took the first option we proposed. The action

today compels the need to interrogate the institutional decision-making capacity and

capability in the face of the obvious financial system and organisation shortcomings,”

Awoyemi said.

Also, Head, Financial Institutions Ratings at Agusto & Co, Mr. Ayokunle Olubunmi said,

“Heritage Bank has been struggling for a while now. The bank’s capital has been

persistently below the CBN minimum threshold.

“I believe that the revocation is meant to send a message to the banks that the CBN will

not hesitate to revoke the licence of any bank in breach of the CBN regulations. It could

also sanitise the banking industry to an extent.”

He noted that the revocation could improve confidence in the financial system since the

banks know that their licences could be withdrawn and would have to comply with the

various regulations.

Olubunmi, further stressed that the recent increase in the NDIC coverage would provide

some comfort to depositors.

Also, a banker who pleaded anonymity said the distressed bank had not reported their

financials in five years, adding that he perceived two other banks have negative capital

and bad financials which may go the route of license revocation.

The source said, “Heritage Bank had not produced their financials for years and over

the years there had been various investors that had tried to acquire the bank but once

they did their due diligence they backed out. Things have been so bad that they don’t

have senior staff for certain pertinent positions such as Chief Risk Officer and Treasurer.

So, things have been bad in the bank for a while.”


Culled from ThisDay

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Fed Govt Colleges, Unity Schools Common Entrance Examination Holds In Kebbi

June 04, 2024
Fed Govt Colleges, Unity Schools Common Entrance Examination Holds In Kebbi


From Samaila Bayo, Birnin Kebbi


Two hundred and ten (210) candidates from Kebbi State took part in the common entrance examination into Federal government colleges and unity secondary schools in the country on Saturday.


The chairman of the State Universal Basic Education Board (SUBEB) , Professor Sulaiman Khalid who heads the state's supervision and monitoring team for the examination said the 210 candidates that wrote the exams were drawn from the four Emirates of the 21 Local Government Areas of the state.


He said the examination took place in four centres, Birnin Kebbi, Argungu, Yauri and Zuru areas of the state. "The number of our candidates in next year examination would be much higher than the 210 that took part in the exams this year", he said.


He said the common entrance examination went as expected except for little delay in the arrival of the candidates coming from other local government areas for the exam in Birnin Kebbi . "But with the understanding of the invigilators, they were able to write the common entrance examination", he said.


He also commended the education secretaries and other officials from the State Ministry of Education for the smooth conduct of the common entrance examination at the various centres in the state.

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Monday, June 3, 2024

Mohbad is not the real father of Liam

June 03, 2024
 Mohbad is not the real father of Liam


The late hip hop singer, Ileorluwa Mohbad, his father Mr Joseph Aloba has stepped out to disclaim the paternity of his grandson, Liam Joseph in an interview on a social media platform

The man of God in the interview said he was ready to reveal the real killer of his son if a paternity test is carried out on the son he left behind.

Mr. Joseph Aloba in the said interview on a Yoruba talk show, Oyinmomo, said Mhbad’s death was not ordinary, rather the wife Cynthia Aloba a.k.a Wunmi has more to explain as regards the real father of her child, and the cause of her hubby’s death.

Mohbad, a hip-hop singer died sometime last year and his remains is still in the morgue as his father maintained that DNA must be done to ascertain the real father of the late hip-hop only child, Liam Aloba.


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Saturday, June 1, 2024

20 BILLION NAIRA SUITS AGAINST MFM , DR D.K. OLUKOYA AND THEIR LAWYER, BARR DAVIDSON ADEJUWON BY SUNDAY BARUWA OLOWOYEYE AND AYOTUNDE RICHARDS DISMISSED!!!

June 01, 2024
20 BILLION NAIRA SUITS AGAINST MFM , DR D.K. OLUKOYA AND THEIR LAWYER, BARR DAVIDSON ADEJUWON BY SUNDAY BARUWA OLOWOYEYE AND AYOTUNDE RICHARDS DISMISSED!!!


Recall that one Sunday Baruwa Olowoyeye and Ayotunde Richards both of whom were former members of MFM but have since joined the league of LIARS (certain online paid bloggers) in a conspiracy and on a mission to bring down the ministry of MFM and Dr Olukoya, had filed separate suits before the High Court of Lagos State claiming Billions of naira as damages for Fundamental Right abuse by the man of God and his lawyer against them.


After the hearing of all parties in the matter, the presiding Judge, Justice Olatokun in her well considered judgment today, 31st May, 2024 DISMISSED all the claims and prayers of the two Applicants (Sunday Baruwa and Ayotunde Richards) against Mountain of Fire and Miracles Ministries, it’s General Overseer, Dr Olukoya and their lawyer, Davidson Adejuwon


This is nothing but a further confirmation that no matter how far a lie has travelled, the truth will sooner or later catches up with it and crush it to shame.

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WEMA BANK REWARDS CUSTOMERS WITH N10,000,000 IN 5 FOR 5 PROMO SEASON 3 GRAND FINALE ...N90,000,000 Cash Prize disbursed over the Season

June 01, 2024
WEMA BANK REWARDS CUSTOMERS WITH N10,000,000 IN 5 FOR 5 PROMO SEASON 3 GRAND FINALE   ...N90,000,000 Cash Prize disbursed over the Season


Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced 124 winners in the Grand Finale of the third season of its reward initiative, the Wema Bank 5 for 5 Promo—bringing the winners for the season to a total of 1200. The Grand Finale held on May 31st, 2024, at the Wema Bank Head Office in Lagos.


Introduced in 2019, the Wema Bank 5 for 5 Promo is a revolutionary reward initiative established by Wema Bank with a set goal of rewarding the Bank’s active and loyal customers for their support of the brand and its products. Designed to maintain transparency and objectivity, the Wema Bank 5 for 5 Promo is executed through monthly raffle draws supervised by Top Regulatory Bodies and exclusive to the Bank’s actively transacting customers based on the minimum requirements for each season. The first two seasons of the Wema Bank 5 for 5 Promo saw a total of 1,177 Wema Bank customers receive a N63.3 million total cash prize and the just concluded Season 3 raised the bar exceptionally high.


Season 3 of the Wema Bank 5 for 5 Promo launched in July 2023 with a N90,000,000 cash prize for both Naira and Domiciliary (Dollar) Wema Bank Account holders across the country. Over a 10-month span, the 5 for 5 Promo Season 3 toured Lagos, Abuja, Ibadan, Uyo, UNILAG, Akure, Enugu, Benin, Osogbo and for the Grand Finale, Lagos. Each monthly draw disbursed a N9,000,000 cash prize excluding the 6th draw in Akure which disbursed N8,000,000, leaving a N1,000,000 deficit that was carried forward to the Grand Finale, bringing the Grand Finale cash prize to N10,000,000; 2 winners of N1,000,000 each, 12 Domiciliary Account winners of N250,000 each, 30 winners of N100,000 each and 80 winners of N25,000 each. In attendance at the Grand Finale of Wema Bank 5 for 5 Promo Season 3 were Representatives of the Federal Competition & Consumer Protection Commission (FCCPC), the Lagos State Lotteries Board and the National Lottery Regulatory Commission (NLRC), among other dignitaries.


Disclosing the Bank’s motivation for launching the Wema Bank 5 for 5 Promo, Tunde Mabawonku, Wema Bank’s Executive Director of Retail and Digital Business, referenced the Bank’s commitment to giving back to its customers and providing an exceptionally rewarding banking experience for them. “What you see today as an instrument of positive impact and transformation began with a vision set in 2019. Since becoming a National Bank, we had been on a success streak with the launch of Africa’s first fully digital bank, ALAT, our female-focused proposition, SARA by Wema, our USSD solution *945# and a host of others. What stood out for us is how receptive our customers have been through the years, supporting us, welcoming our solutions, and embracing each innovation with open arms. The success reflected in our numbers could not have been possible without the loyalty that we have enjoyed from our customers, so we set our sights on a greater vision—to go beyond the ‘usual’ in our promise of providing customers with a seamless and rewarding banking experience. This vision was brought to life when we launched the 5 for 5 Promo in 2019 and I take this moment to appreciate every person who has contributed to the success of the Wema Bank 5 for 5 Promo and joined us in bringing this vision to reality”.


Elucidating the profound impact generated by the 5 for 5 Promo, Ayodele Olojede, Wema Bank’s Divisional Head of Retail and SME, added, “I am honoured to have had the privilege of assuming office in the preliminary stages of Wema Bank 5 for 5 Promo Season 3, witnessing first-hand the impact that we created in many lives, families, businesses and even careers across our diverse customer base throughout the season. We’ve had winners who were NYSC Corps Members, Business Owners, Corporate Employees, Parents, Students, and several other demographics from all over Nigeria and honestly, being here today at the Grand Finale leaves a bittersweet feeling. While the Grand Finale attests to the impactful journey that we have traversed through the past 10 months, it also marks the end of the Season. I am beyond proud of the transformative impact we have generated over the course of the 5 for 5 Promo Season 3 and the Bank is honoured by the privilege that our customers have given us to serve them. I thank every one of our customers for choosing Wema Bank. The rewards never end with us so keep using your Wema Bank account for all transactions. You have nothing to lose but have EVERYTHING to gain with Wema Bank”.


The Wema Bank 5 for 5 Promo stands out for its inclusivity, diversity and positive impact, touching the lives of hundreds of Nigerians of different ages, social statuses, interests, qualifications and lifestyles. While the 3rd Season of the Wema Bank 5 for 5 Promo has officially come to a wrap, the footprints left by the remarkable initiative remain imprinted in the hearts and lives of all Wema Bank customers who have benefitted from the Wema Bank 5 for 5 Promo.


Wema Bank continues to offer a plethora of rewards for customers via its Deals & Discounts feature on the ALAT App, its social media platforms and a host of other avenues championed by the Bank.


L-R: Divisional Head, Brands, People and Culture, Wema Bank, Ololade Ogungbenro; Head of Lagos office, Federal Competition & Consumer Protection Commission, Susie Onwuka; Senior Legal Officer, Lagos State Lottery and Gaming Authority, Oyinkan Williams; Assistant director, National Lottery Regulatory Commission Lagos Zonal Office, Olusola Ogunbode and Divisional Head, Retail and SME, Wema Bank, Ayodele Olojede at the Wema 5 for 5 Promo Season 3 grand finale held in Lagos today...


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